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with only hours left in fiscal cliff talks congress is calling it a rout no vote tonight in the house of representatives so what does this all really mean and is the damage already done. twenty twelve is almost coming to an end a look back at some of our most memorable stories here at our teeth and new beginnings. when soldiers return from war the veterans administration helped many of them get back on their feet the dark secret lies within the walls of the v.a. hospital in washington d.c. we'll tell you about a culture of drug dealing that has reportedly taken over at the hospital. it is monday december thirty first new year's eve in washington d.c. i'm christine for his hour and you're watching our t.v. . well get your parachutes everyone it looks like we will be going over the fiscal cliff after all the u.s. house of representatives has announced they will not be voting tonight on a budget deal now this may sound very dramatic but a few things to note tomorrow is a federal holiday markets will not be open if congress votes on this next week they could pass legislation retroactively
with only hours left in fiscal cliff talks congress is calling it a rout no vote tonight in the house of representatives so what does this all really mean and is the damage already done. twenty twelve is almost coming to an end a look back at some of our most memorable stories here at our teeth and new beginnings. when soldiers return from war the veterans administration helped many of them get back on their feet the dark secret lies within the walls of the v.a. hospital in washington d.c....
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Dec 29, 2012
12/12
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. >> as the country moves closer to going over the fiscal cliff, the partisan rhetoric reaches new lows. can washington hammer out a deal before it's too late. the american people should be outraged at this because it is disgraceful. it is purposely misleading. >> shocking developments at the state department. the four officials supposedly out of their jobs after the benghazi terror attack reportedly still on the government payroll. how can that be? [chanting] protect the constitution. >> the liberal "new york times" says last month's election significantly weakened the tea party. is that true? we will have a debate. chanting] >> u.s.a. >> caution, you where to enter the no spin zone. the factor begins right now. >> i'm greg gutfeld in for bill o'reilly. thanks for watching us. our top story tonight, the last ditch effort to avert the fiscal cliff. president obama met with congressional leaders for several hours at the white house today to try to hammer out a deal before taxes go up on more than 160 million americans. after the meeting, the president presented a new plan to avoid the cl
. >> as the country moves closer to going over the fiscal cliff, the partisan rhetoric reaches new lows. can washington hammer out a deal before it's too late. the american people should be outraged at this because it is disgraceful. it is purposely misleading. >> shocking developments at the state department. the four officials supposedly out of their jobs after the benghazi terror attack reportedly still on the government payroll. how can that be? [chanting] protect the...
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Dec 29, 2012
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tonight's question, in light of the president's remarks, will a fiscal cliff deal get done? text "a" for yes, text "b" for no to 622639 or go to our blog at ed.msnbc.com. i'll bring you the results later in the show. joining me now is sheldon whitehouse from rhode island. thank you for joining us. >> thank you for having me. >> sir, this is serious, this is even dire. are you encouraged by the meeting today and the president's remarks in the aftermath of that meeting? >> well, i think that the decision to move the forum for the negotiations to the senate was a necessary one. i have a lot of confidence in harry reid's negotiating ability. mitch mcconnell is a veteran negotiator, and i think there's a far better prospect of something being worked out in the senate than there was dealing with speaker boehner and his completely dysfunctional house republican party. >> sure. well, abiding by convention and of course protocol, the senate won't return until sunday. will there be enough time for the senate leaders to really craft a deal that is substantiative and makes a difference,
tonight's question, in light of the president's remarks, will a fiscal cliff deal get done? text "a" for yes, text "b" for no to 622639 or go to our blog at ed.msnbc.com. i'll bring you the results later in the show. joining me now is sheldon whitehouse from rhode island. thank you for joining us. >> thank you for having me. >> sir, this is serious, this is even dire. are you encouraged by the meeting today and the president's remarks in the aftermath of that...
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Dec 27, 2012
12/12
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talk about what the impact of the fiscal cliff has done to the oil market. take a look at oil prices today. since christmas, we are up about 3%. take a look at the volume. if you look at the volume of trading, and "wall street journal" was onto this first talking about the falloff of volume in november, but it has really continued. take a look at what the normal average volume is and where we are today. by the way, out at the exxon mobil refinery, and caught this caught by the way, is one of the nation's newest refineries. a little news out here as we speak today. they have to report this to the federal government because -- liz: we are having some technical difficulties with jeff flock. working on a solution to the debt crisis. first, some of today's winners, s&p. ♪ >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open b
talk about what the impact of the fiscal cliff has done to the oil market. take a look at oil prices today. since christmas, we are up about 3%. take a look at the volume. if you look at the volume of trading, and "wall street journal" was onto this first talking about the falloff of volume in november, but it has really continued. take a look at what the normal average volume is and where we are today. by the way, out at the exxon mobil refinery, and caught this caught by the way, is...
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Dec 31, 2012
12/12
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if this fiscal cliff thing is done, i'm going to sleep. however, if it isn't dealt with, your taxes are going to go up. your grocery bill might go up too. the deal that could affect milk prices, next. and a new year's message from washington from one of our viewers. >> my new year's message to washington is this. there are not wealthy enough and corporations to keep you in office. in this light, grow up, govern, and most importantly. support middle class policies. am i on this one? no, no, no, no, no. i am on this one. [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. belt-friendly. let's fight fat with alli. learn more, lose more at letsfightfat.com. learn more, lose more are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explai
if this fiscal cliff thing is done, i'm going to sleep. however, if it isn't dealt with, your taxes are going to go up. your grocery bill might go up too. the deal that could affect milk prices, next. and a new year's message from washington from one of our viewers. >> my new year's message to washington is this. there are not wealthy enough and corporations to keep you in office. in this light, grow up, govern, and most importantly. support middle class policies. am i on this one? no,...
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Dec 29, 2012
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cliff to convince investors that a deal can get done. so at this point, the market doesn't really want a band-aid or so-called framework deal. in fact, one trader told me that it would almost be better if we went over the cliff, because that would give the markets some certainty. they would at least know what to expect. that is, of course, instead of a band-aid measure, because the worry there is that it would just kick the can down the road. now, this is usually the time of year when we see what's known as a santa claus rally, when investors push up stocks an average of 1.5% in the last few days of the year. and that kind of rally has come to wall street over the past four years. the santa claus rally still has some time to make it, though, with the market wrapping up 2012 on monday with a full day of trading. now, the major averages are, though, on track to make some solid gains for the year. you look at 2012 heading into monday for the dow industrials, they're up 6%. the nasdaq is up more than 13%. and the s&p 500, that's up 1 1% for
cliff to convince investors that a deal can get done. so at this point, the market doesn't really want a band-aid or so-called framework deal. in fact, one trader told me that it would almost be better if we went over the cliff, because that would give the markets some certainty. they would at least know what to expect. that is, of course, instead of a band-aid measure, because the worry there is that it would just kick the can down the road. now, this is usually the time of year when we see...
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Dec 29, 2012
12/12
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. >> you think about the fiscal cliff and they talk about, okay we're going to get a deal done and it might not be perfect. but you definitely don't expect the price of milk to double. >> the risk of this happening is quite slim. >> reporter: experts down play the dairy cliff. >> dairy producers would love to get twice as much for their milk but it ain't going to happen for a few months. >> reporter: because they say the agriculture department would stall it until congress finally acts. >> we're definitely concerned and we keep our eyes on the market. >> but for businesses like benton's dependent on dairy, even the thought of a price hike sends shivers. >> are these going to escalate as well? i'm sure. >> reporter: ice crime lovers joked, that gave them a good reason to eat more now. 1849 quotas will kick in for spring crops but milk is the most pressing issue because it's year round. debora villalon. >>> an update that we first brought you last night about a shooting in the parking lot of the bay point b.a.r.t. station. the victim an 18-year-old richmond man was driving a white toyot
. >> you think about the fiscal cliff and they talk about, okay we're going to get a deal done and it might not be perfect. but you definitely don't expect the price of milk to double. >> the risk of this happening is quite slim. >> reporter: experts down play the dairy cliff. >> dairy producers would love to get twice as much for their milk but it ain't going to happen for a few months. >> reporter: because they say the agriculture department would stall it until...
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Dec 31, 2012
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the subject is fiscal cliff update. colleagues. i appreciate your patience and know you are anxious to understand where we stand on the package. the tax piece is complete and done as of last evening at 1:45 a.m. i thought the entire deal was done. the white house called his morning asking that we also turn off the sequester. the white house has yet to the agree to the $100 beautiful various proposals i suggested but we are continuing to talk. in other words, they wanted that deal to be done. it's not. arthel: thank you so much. we are back in two minutes. arthel: a brand-new hour, we start with a fox news alert. there is just 10 hours left for law makers to resolve a debate that began with cutting our nation's debt and now threatens to raise taxes on nearly every american. brand-new hour of "america live." rick: these last-minute meetings, as we have been getting reports about significant progress. but with lawmakers still at odds over the particulars of the plan threatening to take shape. the possibility of a midnight tax hike is
the subject is fiscal cliff update. colleagues. i appreciate your patience and know you are anxious to understand where we stand on the package. the tax piece is complete and done as of last evening at 1:45 a.m. i thought the entire deal was done. the white house called his morning asking that we also turn off the sequester. the white house has yet to the agree to the $100 beautiful various proposals i suggested but we are continuing to talk. in other words, they wanted that deal to be done....
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Dec 31, 2012
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members of both parties warn as bad as going over the fiscal cliff could be it is better than a deal that looks in what each sees as problems for years. >>trace: the president admits there is still work to be done. >>reporter: still questions of how to pay the extra money medicare doctors have been given and how to keep the alternative minimum tax from burning millions of new taxpayers. in addition to the spending cuts put off until 2013. it is not a done deal. >> there are still issues left to resolve. we are hopeful congress can get it done. it is not done. part of the reason i wanted to speak to you today is to make sure we emphasize to conditioning and that members understand this is a pressing concern across america. >>reporter: the deal would not satisfy the conditions congress made for avoid the fiscal cliff and the president will not go to hawaii to avoid the fiscal cliff and ever continue we get past the fiscal cliff, round two is in a couple of months when congress has to raise the debt ceiling to keep the country from default. trace? >>trace: thank you, wendell, from the w
members of both parties warn as bad as going over the fiscal cliff could be it is better than a deal that looks in what each sees as problems for years. >>trace: the president admits there is still work to be done. >>reporter: still questions of how to pay the extra money medicare doctors have been given and how to keep the alternative minimum tax from burning millions of new taxpayers. in addition to the spending cuts put off until 2013. it is not a done deal. >> there are...
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Dec 29, 2012
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. >> you think about the fiscal cliff and they talk about, okay we're going to get a deal done and it might not be perfect. but you definitely don't expect the price of milk to double. >> the risk of this happening is quite slim. >> reporter: experts down play the dairy cliff. >> dairy producers would love to get twice as much for their milk but it ain't going to happen for a few months. >> reporter: because they say the agriculture department would stall it until congress finally acts. >> we're definitely concerned and we keep our eyes on the market. >> but for businesses like benton's dependent on dairy, even the thought of a price hike sends shivers. >> are these going to escalate as well? i'm sure. >> reporter: ice crime lovers joked, that gave them a good reason to eat more now. 1849 quotas will kick in for spring crops but milk is the most pressing issue because it's year round. debora villalon. >>> an update that we first brought you last night about a shooting in the parking lot of the bay point b.a.r.t. station. the victim an 18-year-old richmond man was driving a white toyot
. >> you think about the fiscal cliff and they talk about, okay we're going to get a deal done and it might not be perfect. but you definitely don't expect the price of milk to double. >> the risk of this happening is quite slim. >> reporter: experts down play the dairy cliff. >> dairy producers would love to get twice as much for their milk but it ain't going to happen for a few months. >> reporter: because they say the agriculture department would stall it until...
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Dec 24, 2012
12/12
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brad, the fiscal cliff is one of the reasons why people are so incredibly gloomy about the future, and, you know, dick's making the point here when speaker john boehner can't even get his own party to follow him and put up a vote on his plan, i mean, aren't republicans equally to blame for the public's profound pessimism? >> well, we have a divided nation, that is for sure. this president has not done his job in leading, and had he done his job in leading especially in the fiscal cliff, he wouldn't be in hawaii now, he'd be in washington making sure that we had a deal -- gregg: has boehner done his job? >> boehner has done a great job in trying to lead republicans to a solution. gregg: seriously? >> absolutely. gregg: he can't even get a vote on his own plan, come on. >> here's the problem, gregg, is we have a president who basically says it's his way or the highway, and republicans are saying, no, we will raise revenue, but we won't do it at the expense of spending. our problem is a president who loves to spend money, who's now put down another $6 trillion in debt, and basically wants
brad, the fiscal cliff is one of the reasons why people are so incredibly gloomy about the future, and, you know, dick's making the point here when speaker john boehner can't even get his own party to follow him and put up a vote on his plan, i mean, aren't republicans equally to blame for the public's profound pessimism? >> well, we have a divided nation, that is for sure. this president has not done his job in leading, and had he done his job in leading especially in the fiscal cliff,...
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Dec 28, 2012
12/12
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. >>> you may have heard of the fiscal cliff described as a self-inflicted wound, a manufactured crisis. that just means it didn't come out of the blue. the bottom line is this. whatever happens we have done it to ourselves. cnn's ali velshi shows us how we got here. >> now we have passed a bold package of tax relief for america's families and businesses. >> it starts more than a decade ago when president bush initiated a series of tax cuts for all americans. but it's a deal with with the devil. the cuts, which are politically expedient but costly to government, expire in ten year's time. >> both houses of congress have passed tax relief that will protect the middle class. >> when it came time for the cuts to expire, the u.s. was emerging from the worst recession since the great depression. so president obama agreed to extend the tax cuts for two more years in exchange for congress extending federal emergency unemployment benefits. those cuts are expensive. if they are extended by 2020, the bush era tax cuts will be responsible for more than half the total national debt. democrats insis
. >>> you may have heard of the fiscal cliff described as a self-inflicted wound, a manufactured crisis. that just means it didn't come out of the blue. the bottom line is this. whatever happens we have done it to ourselves. cnn's ali velshi shows us how we got here. >> now we have passed a bold package of tax relief for america's families and businesses. >> it starts more than a decade ago when president bush initiated a series of tax cuts for all americans. but it's a...
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there was a lot of hope that some of these things would get done if fiscal cliff could be put off the table. it's not going to happen. >> when you talk about not enough goodwill, that's true when the cameras are on. when the cameras are off a lot of these people like each other, they're collegial, they're very much a family, at least in the senate, probably in the house, too. there's three people who are leaving so today being the final day, there are going to be a lot of people saying good-bye to dick lugar, kent conrad, and herb kohl. >> there is a little bit of that going on. it's funny because there were good-bye speeches given before christmas but a lot of those senators are speaking again and so they're certainly milking this for all it's worth because they're here until thursday morning when the new congress begins in the afternoon. >> all right. ed, thanks so much for joining us. still to come, toure's thoughts on this cliff-mas eve. ♪ [ male announcer ] why do more emergency workers everywhere trust duracell...?? duralock power preserve. locks in power for up to 10 years in
there was a lot of hope that some of these things would get done if fiscal cliff could be put off the table. it's not going to happen. >> when you talk about not enough goodwill, that's true when the cameras are on. when the cameras are off a lot of these people like each other, they're collegial, they're very much a family, at least in the senate, probably in the house, too. there's three people who are leaving so today being the final day, there are going to be a lot of people saying...
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Dec 31, 2012
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remember this, if you haven't been following the fiscal cliff, take note. even if a deal gets done, taxes go up for many high income and likely big spending families. there is an economic impact either way. it is just perhaps the veseveri under question. >> when we talk about is the marginal propensity to consume. what does that mean? for every dollar that you either have or don't have, how much of that will you spend or not spend? the thinking is as we raise taxes on wealthier people, that margin propensity goes down. in other words, they don't spend every dollar they have, they save a bit of it, because they have more of it. the economic point of view is to get rid the tax hikes on middle class. it goes down the the higher up you go it goes down further. you are right to say that in general, economists in 2013, brian, are looking for fiscal contraction. the federal government will be a drag on growth. no matter what happens, taxes go up on some folks then spending cuts in the budget control act and so far as you notice, brian, they haven't said anything a
remember this, if you haven't been following the fiscal cliff, take note. even if a deal gets done, taxes go up for many high income and likely big spending families. there is an economic impact either way. it is just perhaps the veseveri under question. >> when we talk about is the marginal propensity to consume. what does that mean? for every dollar that you either have or don't have, how much of that will you spend or not spend? the thinking is as we raise taxes on wealthier people,...
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Dec 28, 2012
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that's just one day before the fiscal cliff deadline when income tax cuts and payroll tax cuts are set to expire, $110 billion worth of spending cuts kick in, and two million jobless americans lose their unemployment benefits. for the first time, leader reid said today that it looks like the nation is going to go over the fiscal cliff, but that may just have been bluster, jeff, to try to put more pressure on republicans. >> glor: so, nancy, the house coming back on sunday. is that a good sign? >> reporter: well, it is in the sense that if the senate does manage to pass something, the house would be here to vote on it, as well. originally, speaker boehner had told his members that he would give them 48 hours' notice if they were needed back here at the capitol, but there was a recognition, i think, that it just looked bad for the house to be gone when we were so close to the fiscal cliff deadline. >> glor: nancy cordes, thank you. major garrett has been following developments at the white house. major, what is the president's next move? >> reporter: it is not a breakthrough but it is a
that's just one day before the fiscal cliff deadline when income tax cuts and payroll tax cuts are set to expire, $110 billion worth of spending cuts kick in, and two million jobless americans lose their unemployment benefits. for the first time, leader reid said today that it looks like the nation is going to go over the fiscal cliff, but that may just have been bluster, jeff, to try to put more pressure on republicans. >> glor: so, nancy, the house coming back on sunday. is that a good...
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Dec 27, 2012
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cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough room. >> if you're looking for love, you better have a good credit score. take a look at this. ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores is huge and that could be at the top of the list. they interviewed people across the u.s., and a newspaper discovered a low credit score is a deal breaker in search of love. so if you don't have your act together, take care of that and maybe you'll find love. >> can you imagine, hi, how are you? what is your credit score? >> 420. no, mine is a lot higher. >> we want to show you this next footage. anyone who has ever had their parking lot stolen is going to love this. this is in russia. we don't know why this is being towed. i've got to get me one of these, because i would just l
cliff cliff thing done. no word yet on when people get extra lattes, where they can write get your lazy ass off vacation. >> willis likes that a lot more. >> i womdzer if there's enough room. >> if you're looking for love, you better have a good credit score. take a look at this. ♪ >> okay, yeah. we're not going to say we're going after those guys, but it's the credit score guys. "the new york times" is reporting that credit scores is huge and that could be...
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Dec 28, 2012
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but first, the latest developments on the fiscal cliff. gary nurenberg joins me with the latest as we actually just heard from president obama. >> after a long meeting the president came out to say he is still optimistic that a deal can be done reminding the country that we are only now three days away from the point where everyone's taxes go up and huge spending cuts kick in, saying that would be wrong for the economy and wrong for the country. the president said he is urging the senate leaders, reid and mcconnell to come back to him with a plan by sunday. he says if they're unable to do that, then he is demanding that his backup proposal from last week allowing tax rates to rise for those making $250,000 and extending unemployment we was for 2 million jobless americans whose benefits will run out on january 1st, he wants that proposal to go to the house and the senate, the senate first, and demands an up or down vote. >> if you can get a majority in the house and a majority in the senate, then we should be able to pass a bill. so the ame
but first, the latest developments on the fiscal cliff. gary nurenberg joins me with the latest as we actually just heard from president obama. >> after a long meeting the president came out to say he is still optimistic that a deal can be done reminding the country that we are only now three days away from the point where everyone's taxes go up and huge spending cuts kick in, saying that would be wrong for the economy and wrong for the country. the president said he is urging the senate...
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Dec 29, 2012
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lawmakers have just three days left to get a deal done in time to avoid the fiscal cliff. even if a deal is thrown together at the 11th hour, senate majority leader harry reid says what they come up with will be imperfect. and some people aren't going to like it. i spoke with independent new york stock exchange trader kenny polkari earlier and asked them how wall street is reacting to the looming fiscal cliff. >> we've come right to the 11th hour. the -- the fact that there's going to be a substantive deal that comes out of this in the 11th hour is probably nil to zero, right? essentially in my sense, it's easier to go over the cliff. then there's clarity, right? taxes will go up, spending will get cut. the market will know what is going to happen. it can only get better from there because then you'll get legislators that come to the table, that try to cut taxes and raise some spending, and they'll argue it from a positive point of view and stand up and say, rah-rah, look what we, did right? it won't get any worse if we go over the cliff. if there's a bandaid, it leaves co
lawmakers have just three days left to get a deal done in time to avoid the fiscal cliff. even if a deal is thrown together at the 11th hour, senate majority leader harry reid says what they come up with will be imperfect. and some people aren't going to like it. i spoke with independent new york stock exchange trader kenny polkari earlier and asked them how wall street is reacting to the looming fiscal cliff. >> we've come right to the 11th hour. the -- the fact that there's going to be...
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fiscal conservatives say a smaller stop gap measure to avoid the cliff won't work. >> if we, in fact, do not use this period of time before right now, deal with the bigger issue and entitlements, if we just continue to kick the can down the road. the market will respond in a more permanent and negative way to our inaction. >> one thing leading republicans and democrats seem to agree on is time is running short. veteran senate democrat says there is a very small window to get something done. >> if we don't have a deal within the next 24 hours, the question is where do you buy a pair of shoes? the closer we get to the end the less likely you will compress agreement in place that will have it pass. >> this struggle over the future of the country some suggest is not that different than what many americans face in their daily lives. >> this is no different than marriage. a lot of marriages fail because they fight over money. that i get heavily in debt and they fight over money issues. we as a nation are right now fighting over money because we are so heavily in debt. >> though in this case
fiscal conservatives say a smaller stop gap measure to avoid the cliff won't work. >> if we, in fact, do not use this period of time before right now, deal with the bigger issue and entitlements, if we just continue to kick the can down the road. the market will respond in a more permanent and negative way to our inaction. >> one thing leading republicans and democrats seem to agree on is time is running short. veteran senate democrat says there is a very small window to get...
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Dec 26, 2012
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they will voluntarily where "come together" to urge politicians to get a deal done on the fiscal cliff before the end of the year. and i wasn't very surprised because howard schultz has been very outspoken. we sat down earlier this month to talk about the fiscal cliff and the risks to u.s. businesses, to the world economy and to the average u.s. citizen if we don't have a deal, if we don't get it done. i want you to take a listen to what he fold me. >> the real difference today versus perhaps any other time in history is that this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. not the least of which will be the level -- fracturing of confidence in the united states of america. >> seismic and significant. very powerful words. how could this play out for americans if we don't have a deal? what will that feel like to them, howard? >> i think there will be tremendous personal pressure on people who are going to see thei
they will voluntarily where "come together" to urge politicians to get a deal done on the fiscal cliff before the end of the year. and i wasn't very surprised because howard schultz has been very outspoken. we sat down earlier this month to talk about the fiscal cliff and the risks to u.s. businesses, to the world economy and to the average u.s. citizen if we don't have a deal, if we don't get it done. i want you to take a listen to what he fold me. >> the real difference today...
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to be a huge problem. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that to be the case? >> no, i don't believe that to be the case. listen, a year ago august when the president was negotiating with the speaker, they were very close to the big deal that needs to be struck. and this isn't a one party or a one house problem. this is leaders of both parties and all branches of the government are not willing to make the deal that they know they have to make, and everybody wants their stuff but doesn't want to give up, you know, what they don't want to give up. >> you know, we're showing pictures right now of john boehner and president obama. john
to be a huge problem. >> we are dangerously close to the fiscal cliff. now, in all fairness, not all of it hits on new year's day but some of it does. the white house, we have a white house source who has said this. let me just read this to you. it says we believe very strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if senator mcconnell and speaker boehner don't cooperate. this is from the white house yesterday. do you believe that...
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so the markets have moved up on that hope we will get a done deal and avert the fiscal cliff. >>> positioning portfolios for the new year, i can majs is tricky right now. there's a lot of mess going on in d.c. we're going to help. we're going to give you the single best play for 2013. >>> and also next, two congressman, one democrat one republican. they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done? "closing bell" will be back after this break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95
so the markets have moved up on that hope we will get a done deal and avert the fiscal cliff. >>> positioning portfolios for the new year, i can majs is tricky right now. there's a lot of mess going on in d.c. we're going to help. we're going to give you the single best play for 2013. >>> and also next, two congressman, one democrat one republican. they're going to talk to us about the fiscal cliff. are they happy or sad? and can they rise above to get a deal done?...
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Dec 29, 2012
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cliff and what it is going to take to get a deal done. our gop and democratic strategists are standing by to dive into that debate. >> and christmas is over, but the deals are still out there. you'll find out what is expected to drop in price as we head into the new year. >>> this is fox 5 news at 10:00. >>> back to our top story, we are just three days way from reaching the fiscal cliff -- away from reaching the fiscal cliff. this afternoon president obama held talks with congressional leaders at the white house. the president says he is hopeful a deal can be reached in order to avoid automatic tax increases and spending cuts come january 1st. senator harry reid and mitch mcconnell are trying to hammer out a deal the house might approve, but the house is ticking. joining us now are our political strategists. brendan, the president today said is he going to have senator mcconnell, senator reid start off on this package, but doesn't that eliminate a big player in this, which is john boehner, if this has to get passed through the house? >>
cliff and what it is going to take to get a deal done. our gop and democratic strategists are standing by to dive into that debate. >> and christmas is over, but the deals are still out there. you'll find out what is expected to drop in price as we head into the new year. >>> this is fox 5 news at 10:00. >>> back to our top story, we are just three days way from reaching the fiscal cliff -- away from reaching the fiscal cliff. this afternoon president obama held talks...
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Dec 27, 2012
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but the fiscal cliff will have happened. and one reason is i think it will be much too hard for the house to agree to a bill that uncouples the tax hikes. in other words, maybe raise taxes on one group, but not another group. that removes the leverage that i think republicans really feel they need in order to get the kind of spending cuts and entitlement reform that they feel is really just fundamental to reforming the nation's debt and the economy staring down a healthier path. so for that reason, yeah, i don't think they're going to have anything by the end of the week. jon: we just heard harry reid saying, oh, it's all john boehner's fault in the house of representatives. the president also seems to be pointing at the house. where does the truth lie here? i mean, who is, who needs to budge? >> well, technically the house and senate have each passed bills, but they don't agree on the bills that they've passed. for republicans i know from talking to even the most moderate republicans they are willing to vote for a tax rate
but the fiscal cliff will have happened. and one reason is i think it will be much too hard for the house to agree to a bill that uncouples the tax hikes. in other words, maybe raise taxes on one group, but not another group. that removes the leverage that i think republicans really feel they need in order to get the kind of spending cuts and entitlement reform that they feel is really just fundamental to reforming the nation's debt and the economy staring down a healthier path. so for that...
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we have options if we go over the fiscal cliff. >> mitch mcconnell and senate democrats hit a stalemate on the weekend and he met twice today with the vice-president. >> i am willing to get this done, but i need a dance partner. >> the deal is tenuous and needs to get through a republican- controlled house as a countdown of a different kind chris closer, that is set to trigger a broad tax increases and drastic cuts. our top priority has to be to make sure taxes on middle-class families don't go up. that would hurt our economy badly. >> this afternoon it appears we are very close to a deal. if not, an average american family will start the new year with a $3,400 tax hike. here's hoping there's a reason to raise your glass in a post tonight and a sigh of relief. john gonzalez, abc 7 news. >> you can get the latest on efforts to reach a fiscal cliff steel throughout the day. wjla.com. we will have full coverage at 5:00. happening right now, developing news out of new york. secretary of state hillary clinton is in the hospital this afternoon. she is big news for blood clots. t-fal in her ho
we have options if we go over the fiscal cliff. >> mitch mcconnell and senate democrats hit a stalemate on the weekend and he met twice today with the vice-president. >> i am willing to get this done, but i need a dance partner. >> the deal is tenuous and needs to get through a republican- controlled house as a countdown of a different kind chris closer, that is set to trigger a broad tax increases and drastic cuts. our top priority has to be to make sure taxes on middle-class...
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Dec 27, 2012
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the new year's resolution is not to go for the fiscal cliff. lori: i will just keep saying and be done. tracy: president obama and the senate back in office, senator harry reid is the latest to say it looks like we are headed to tumble over the cliff. let's check with rich edson with the latest. >> tracy will have to come up with a new term. we will be saying this afternoon years. democrats and republicans deck at each other saying it is your turn to make a move, up to you to move next, no movement on capitol hill, and there was speculation the white house would send a proposal to capitol hill and that has been denied by an aide to the senate majority leader, harry reid taking to the senate floor saying he thinks it looks like we are headed over the fiscal cliff and he hang that on the house. >> if we go over the cliff and it looks like that is where we are headed the house of representatives, with four days left after the first of the year, are not here with the speaker having told them give them 48 hours notice. i can imagine their conscience
the new year's resolution is not to go for the fiscal cliff. lori: i will just keep saying and be done. tracy: president obama and the senate back in office, senator harry reid is the latest to say it looks like we are headed to tumble over the cliff. let's check with rich edson with the latest. >> tracy will have to come up with a new term. we will be saying this afternoon years. democrats and republicans deck at each other saying it is your turn to make a move, up to you to move next,...
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Dec 28, 2012
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and what congress has not done- and if the fiscal cliff is taking up too much brentwood. even with that band with, they're not going forward they're taking up too much -- bandwidth. >> grant: if you'd like to connect with michael -- you can follow him on "at- yaki-blog." >> grant: former president george h-w bush remains in intensive care at a houston hospital tonight. the bush camps is remaining mostly silent -- providing no details today about his medical condition. mister bush -- who is 88- year-old. was hospitalized last month for a nasty cough related to bronchitis. he is now said to have developed a stubbord fever that rose earlier this week. the good news is he's alert and talking to doctors. >> the debate over gun control and the fallout from the n-r-a comments continue. national rifle association president david keene is speaking out today.nearly two weeks after the connecticut school massacre. n-r-a executive vice president wayne lapierre first addressed the issue last friday.calling for armed officers in all u-s schools. lapierre blamed recent mass shootings on
and what congress has not done- and if the fiscal cliff is taking up too much brentwood. even with that band with, they're not going forward they're taking up too much -- bandwidth. >> grant: if you'd like to connect with michael -- you can follow him on "at- yaki-blog." >> grant: former president george h-w bush remains in intensive care at a houston hospital tonight. the bush camps is remaining mostly silent -- providing no details today about his medical condition....
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Dec 26, 2012
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cliff. 48% of those polled say a deal is not likely. that optimism is waning, though when the poll was done earlier this month, 59% said a deal was likely. >>> former braves great andruw jones is free on a $2,500 bond this morning after being arrested outside of atlanta. he was arrested on a battery charge. the gwinnett county detention center said there was a domestic dispute between he and his life. >>> the number of extremely obese preschoolers has dropped slightly over the last decade, according to the centerses for disease control and prevention. researchers called the decline modest but say it's encouraging. the cdc adds that part of the decrease could be attributed to awareness campaigns that encourage physical activity and healthy eating. >>> before heading back to d.c. to try to avoid heading off the fiscal cliff, president obama and the first lady kept up a christmas tradition. they visited marines at a base in hawaii thanking them for their service. mrs. obama and their daughters, by the way, won't cut short their vacation. t
cliff. 48% of those polled say a deal is not likely. that optimism is waning, though when the poll was done earlier this month, 59% said a deal was likely. >>> former braves great andruw jones is free on a $2,500 bond this morning after being arrested outside of atlanta. he was arrested on a battery charge. the gwinnett county detention center said there was a domestic dispute between he and his life. >>> the number of extremely obese preschoolers has dropped slightly over the...
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cliff. >>> families in the making ripped apart. russia officially bans the adoption of russian children by americans. >>> and for the second time in a month, a man pushed to his death from a new york city subway platform in the path of an oncoming train. wolf blitzer is off. i'm candy crowley. you're in "the situation room." >>> all eyes on that white house this hour. and the meeting that may be the last best chance to keep the country from going over the fiscal cliff. right now, the leaders of the house and senate are sitting down with president obama in a search for an 11th hour deal to prevent severe tax hikes and spending cuts from automatically kicking in with the new year. cnn's chief white house correspondent jessica yellin is getting new details. jess can ka, what are you hearing about that meeting? >> reporter: candy, the president is going to explain or reiterate the position he took on friday, that he would like a plan that extends tax rates for people who make $250,000 and below
cliff. >>> families in the making ripped apart. russia officially bans the adoption of russian children by americans. >>> and for the second time in a month, a man pushed to his death from a new york city subway platform in the path of an oncoming train. wolf blitzer is off. i'm candy crowley. you're in "the situation room." >>> all eyes on that white house this hour. and the meeting that may be the last best chance to keep the country from going over the...
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Dec 29, 2012
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the fiscal cliff -- it's just four days away. what's being done in 11th hour talks. we'll have reaction from our poltiical analyst michael yaki. >>> and the newtown school massacre. scientists are now testing the shooters d-n-a. what they're looking for - ahead. >> jacqueline: this live look at a stormtracker 4. return on the radar but the wind and the rain will be returning. we will time it out on futurecast, coming up. (male announcer) live from the kron 4 news station, this is the kron 4 news. >> catherine: just 4 days to go. president obama stated the obvious earlier today. saying the hour for immediate action is here" to avoid the fiscal cliff. if there's no deal by midnight december 31st. there will be automatic tax increases and spending cuts. we'll have more from our political analyst in a minute - but first. kron 4's justine waldman is back with more on our developing story. >> reporter: after meeting with bi-partisan leaders friday, the president said no one will get 100-percent of what they want. he said if congress can't reach a deal. congress should allo
the fiscal cliff -- it's just four days away. what's being done in 11th hour talks. we'll have reaction from our poltiical analyst michael yaki. >>> and the newtown school massacre. scientists are now testing the shooters d-n-a. what they're looking for - ahead. >> jacqueline: this live look at a stormtracker 4. return on the radar but the wind and the rain will be returning. we will time it out on futurecast, coming up. (male announcer) live from the kron 4 news station, this is...
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people with this term fiscal cliff? >> right. to really get the deal done right you need about 4 troll trillion to get us back on track. that means pro-growth tax reform, entitlement reform and better control of savings of the proposals at this point are not at that level. they're more $2.5 trillion range. we're very anxious to see what the president will put forward in terms of savings and reform. adam: in roughly four days can all of you in washington get this deal done? or is it going to be some kind of a patch with some kind of delay and than we'll deal with the new congress deals with it? >> well, adam i think you're kind of on it there. it would be great if we can get it done. if not let's at least get the framework to set it up and finish it off right away. either way we have to get a deal done before congress gets adjourned or get a deal done in the new congress. there is enough proposals put forward. get the deal we need to get things on track. adam: we should point out i think senator scott brown out of massac
people with this term fiscal cliff? >> right. to really get the deal done right you need about 4 troll trillion to get us back on track. that means pro-growth tax reform, entitlement reform and better control of savings of the proposals at this point are not at that level. they're more $2.5 trillion range. we're very anxious to see what the president will put forward in terms of savings and reform. adam: in roughly four days can all of you in washington get this deal done? or is it going...
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cliff which will kick in in six days if nothing isone done. those are the headlines are we talking about is cutting his vacation short in tha and that l well and good. is there anything that can be done because they really seem to be at an impasse before christmms, the republicans in the houseors, imploded and a ve, very tight spot and i suspect if there is to be a deal it'll be a pretty on powering one for all involved. eric: john boehner, putting it up on the screen. $800 billion in tax revenue on the table, allegedly the table, allegedly said you get nothing for free. >> there were a couple of eye-opening quotes. went through the timeline of how went through the timeline of how boehner and the president and that was an big one. boehner print revenues on the table andd the president saying that is what i get out of the gate, you get nothing for that, kind of a bit of a surprise. he also said if we go over the t cliff that threat and boehner, i will use my inaugural address to blame you for tax increases and for the fiscal cliff going o overb
cliff which will kick in in six days if nothing isone done. those are the headlines are we talking about is cutting his vacation short in tha and that l well and good. is there anything that can be done because they really seem to be at an impasse before christmms, the republicans in the houseors, imploded and a ve, very tight spot and i suspect if there is to be a deal it'll be a pretty on powering one for all involved. eric: john boehner, putting it up on the screen. $800 billion in tax...
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shibani: we are just four days away before the fiscal cliff deadline, and as many investors scramble to adjust their portfolios, we've got a money manager who says he's got three plays that could yield you 20% no matter what the fiscal cliff resolution ends up being. joining us now is randy warren, warren financial services cio. thanks for joining us. >> nice to be here. thank you. shibani: so right off the top, i would love to know, why is it that etfs you feel can be a little bit more resistant to the waves coming in, the shockwaves coming out of d.c.? >> i think you go for some sectors that aren't necessarily in the crosshairs of what's going on in the house and in the senate right now. so i'm looking at things like the financial sector. it's been beaten down over the last few years. we all know about all the history that's gone on since 2007, 2008, some of the banks failed, some of the big banks failed and also the problems in europe. a lot of the banks had trouble in europe over the last couple of years. they are starting to rebound now. there's an opportunity for improvement in
shibani: we are just four days away before the fiscal cliff deadline, and as many investors scramble to adjust their portfolios, we've got a money manager who says he's got three plays that could yield you 20% no matter what the fiscal cliff resolution ends up being. joining us now is randy warren, warren financial services cio. thanks for joining us. >> nice to be here. thank you. shibani: so right off the top, i would love to know, why is it that etfs you feel can be a little bit more...
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if nothing is done to avert the fiscal cliff. if you make $104,000, doing pretty well, you see your taxes go up $6200. if you make $400,000 a year, you see taxes go up over $9,000. that's overnight. the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks says, hey, you know what? let's write on our coffee cups "come together." do you think anybody will pay attention to that in washdz? >> you know what? anything and everything helps. just merely spreading the message america is watching and waiting for congress to act to find a way to reason together, that's an important act, and everyone doing their part can do, i say good on him. we need to send this message to washington and make sure it isn't settled. we'll go deeper into this tonight at 7:00 as well. this is urnlggent. the clock is ticking, s
if nothing is done to avert the fiscal cliff. if you make $104,000, doing pretty well, you see your taxes go up $6200. if you make $400,000 a year, you see taxes go up over $9,000. that's overnight. the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks...
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just days ago he looked to avoid a fiscal cliff. will a deal get done? a newspaper under heavy criticism now for publishing the names of local gun permit legal local gun permit holders online. details on that are next on n "news nation." e reached the age where you don't back down from a challenge. this is the age of knowing how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. ♪ [ male announcer ] it started long ago. the joy of giving something everything yo
just days ago he looked to avoid a fiscal cliff. will a deal get done? a newspaper under heavy criticism now for publishing the names of local gun permit legal local gun permit holders online. details on that are next on n "news nation." e reached the age where you don't back down from a challenge. this is the age of knowing how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if...
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. >>> and six days and counting until we hit the fiscal cliff. the president is cutting short his hawaiian vacation to go back to work. we'll look at whether a deal is likely to get done. >>> and not what people in alabama wanted for christmas. tornadoes ripped through the south. >> i prayed to god as loud as i could and i was just praying for my safety. and i knew that -- i prayed that the church stayed put. rsal] ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior
. >>> and six days and counting until we hit the fiscal cliff. the president is cutting short his hawaiian vacation to go back to work. we'll look at whether a deal is likely to get done. >>> and not what people in alabama wanted for christmas. tornadoes ripped through the south. >> i prayed to god as loud as i could and i was just praying for my safety. and i knew that -- i prayed that the church stayed put. rsal] ♪ everybody well don't you know it's me now? ♪ ♪...
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with the house reconvening to help the nation avoid the fiscal cliff, remember that disasters affect every region of this nation and that we as a nation stand together in times of crisis. house g.o.p. speaker john boehner has signaled he supports sandy aid. but his spokesman says that the speaker has not decided whether or not to bring up this bill in this session of congress, which ends on thursday. if they don't take it up by thursday, the senate bill will expire and the new congress will have to start all over again. >> eric: all right. thanks. >> coming up, russia has banned adoptions by u.s. families. coming up, we will speak with a couple in the process of adopting this little boy, about their ordeal and how right now, they can't bring him home and give him the life that they say he deserves. >> eric: we will give smuadvice about how young people can start now for planning for their retirement. that's right, without breaking the bank. advice on building, not breaking your nest egg, as you get older. >> we are just 48 hours away from new year's eve. why is all that confetti fall
with the house reconvening to help the nation avoid the fiscal cliff, remember that disasters affect every region of this nation and that we as a nation stand together in times of crisis. house g.o.p. speaker john boehner has signaled he supports sandy aid. but his spokesman says that the speaker has not decided whether or not to bring up this bill in this session of congress, which ends on thursday. if they don't take it up by thursday, the senate bill will expire and the new congress will...
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senator john mccain told me just a little while ago even if a fiscal cliff deal is done, the battle between the white house and congressional republicans is far from over. >> i think there's going to be a whole new field of battle when the debt ceiling rolls around. >> all right. let's dig a little bit deeper with ryan lizza. he's washington correspondent for the new yorker magazine. also ali velshi our chief correspondent is joining us. deal or no deal? >> looks like from what dana is reporting, that a deal is in sight. republicans are saying they're going to have a vote tonight. looks like a deal is done. >> with the senate. >> we don't know what the house will do. and the last time john boehner tried to put something on the floor, his caucus rebelled. he'd have to let the house vote its will. >> but you agree if the president of the united states supports it, most of the house democrats will support it. so you don't need a majority of the republicans, you need a few republicans to get to that magic number of 218. >> exactly. obama and pelosi seem to have a firm grasp on the house democra
senator john mccain told me just a little while ago even if a fiscal cliff deal is done, the battle between the white house and congressional republicans is far from over. >> i think there's going to be a whole new field of battle when the debt ceiling rolls around. >> all right. let's dig a little bit deeper with ryan lizza. he's washington correspondent for the new yorker magazine. also ali velshi our chief correspondent is joining us. deal or no deal? >> looks like from...
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. >>> and just five days until the fiscal cliff. president obama catching a flight back to washington where there's doubt that a deal can get done in time. good morning, everybody, for a thursday morning. very early, 5:00 a.m. on the east coast. welcome to "early start." i'm alina cho. >> i'm drew griffin. john and zoraida are off today. it's 5:00 a.m. in the east. a deadly winter storm system slamming the northeast after hammering the nation's heartland. look at this radar, system serious snowmaker. it's packing destructive winds, six states under winter storm warnings right now. pennsylvania, new york, massachusetts, new hampshire, vermont and maine. all could see a foot of snow or more. more than 200,000 customers spanning several states already without power. 1,700 plus flights canceled yesterday. imagine that. hundreds more already taken off the board this morning. there are six deaths being blamed on the weather since tuesday and the threat hasn't passed yesterday. bonnie schneider, meteorologist checking the system from the c
. >>> and just five days until the fiscal cliff. president obama catching a flight back to washington where there's doubt that a deal can get done in time. good morning, everybody, for a thursday morning. very early, 5:00 a.m. on the east coast. welcome to "early start." i'm alina cho. >> i'm drew griffin. john and zoraida are off today. it's 5:00 a.m. in the east. a deadly winter storm system slamming the northeast after hammering the nation's heartland. look at this...
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the nation now just hours from going over the fiscal cliff after lawmakers fail to reach a deal over the weekend. could a last-minute push from vice president joe biden get something done before your taxes go up? >>> and oh, baby. kanye wecakanye west surprises y announcing his girlfriend, kim kardashian, is pregnant with their first child. how her family is reacting to the news "today," monday, december 31st, 2012. >> announcer: from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >> welcome to "today" on a very busy monday morning. i'm willie geist. >> and i'm erica hill. matt and savannah have the morning off. >>> we'll have the latest on secretary of state clinton's condition in a live report straight ahead. it is the last day of 2012. >> you and i are both in the same situation with young children. >>> people filing into times square in new york city. it is the world's biggest party. of course, security will be extremely tight. we'll check in on celebrations there and around the world. >> then we'll catch up with three wom
the nation now just hours from going over the fiscal cliff after lawmakers fail to reach a deal over the weekend. could a last-minute push from vice president joe biden get something done before your taxes go up? >>> and oh, baby. kanye wecakanye west surprises y announcing his girlfriend, kim kardashian, is pregnant with their first child. how her family is reacting to the news "today," monday, december 31st, 2012. >> announcer: from nbc news, this is "today"...
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obama has done a much better job of positioning himself to take advantage of the fiscal cliff. he has painted republicans is only caring about their millionaire and billionaire friends. taking hostage the people of america. you have steny hoyer saying that republicans want to take children hostage and threatened to shoot them. this is vilifying republicans and it has been incredibly effective. in the short term, absolutely, the president is set to take advantage of this. tax increases, massive tax reductions to the military. republicans really stand and the notion is appalling about who wins, but the republicans win because the economy is going to go out yet another fiscal cliff. george w. bush is not the president. obama is the president, he is not putting forth proposals to work with republicans. he will have to take ownership of this. they need to come up with a cohesive message about real economic growth and shrinking the size of government. they don't have a message and that is going to be the big question about who wins and long-run. jon: if we go over the cliff, i mean,
obama has done a much better job of positioning himself to take advantage of the fiscal cliff. he has painted republicans is only caring about their millionaire and billionaire friends. taking hostage the people of america. you have steny hoyer saying that republicans want to take children hostage and threatened to shoot them. this is vilifying republicans and it has been incredibly effective. in the short term, absolutely, the president is set to take advantage of this. tax increases, massive...
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as we look to the white house, we sure hope that they are getting something done, the fiscal cliff meeting at the white house right now. what were the mechanics of rushing the deal through congress and getting it passed into law? what would that look like in four days? lisa desjardins joins us now. what will it look like? >> well, there is a couple of possibilities, don. one is that they take sort of the remnants of one of the bills that passed the house or the senate and they just change it. they add whatever is in this deal to it. they have a whole bunch of vehicles that are possible for that. one sticking point, because this deal would most likely deal with taxes, there is a rule in the constitution that is has been interpreted by most every side to determine it has to begin in the house, revenue measures begin in the house. they need a bill that starts in the house, okay, they have a lot to do that. then the trick is making sure they have the votes. i think if we see anything come out of tonight's meeting, anything substantial, that's what is going to happen this next day and a half. l
as we look to the white house, we sure hope that they are getting something done, the fiscal cliff meeting at the white house right now. what were the mechanics of rushing the deal through congress and getting it passed into law? what would that look like in four days? lisa desjardins joins us now. what will it look like? >> well, there is a couple of possibilities, don. one is that they take sort of the remnants of one of the bills that passed the house or the senate and they just change...
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cliff which will kick in in about six days if nothing'ss done. those are the headlines. everyone talking about cutting his vacation short. the question is there anything that can be done? they were at an impasse before christmas, the republicans and house imploded and it's a tight spot. i suspect if there's a deal,t will be unpalatable for everyone. >> there was a interchange before the talks broke wn. we have the quotes. john boehner said to obama, quote, iut $800 billio i tax revenue on the table. what do i get for that? allegedly we understand president obama came back to him and said, you get nothing. i get that for free. you get nothing. >> there were a couple eye-opening quotes. a "wall reet journal" story before christmas that went through the timeline of how this happened between painer and the president -- boehner and the president. boehner put the rough knee on the table and the president saying that's what i get out of the gate. you get nothing for that, which was a surprise to the speaker. he said if we go over the cliff, that the pre
cliff which will kick in in about six days if nothing'ss done. those are the headlines. everyone talking about cutting his vacation short. the question is there anything that can be done? they were at an impasse before christmas, the republicans and house imploded and it's a tight spot. i suspect if there's a deal,t will be unpalatable for everyone. >> there was a interchange before the talks broke wn. we have the quotes. john boehner said to obama, quote, iut $800 billio i tax revenue on...
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lawmakers have been so consumed by the fiscal cliff that it appears little was done to extend the 2010 payroll tax cuts, put in place by president obama two years ago in order to boost the economy. so what does it mean to your wallet? here is how much less you'll bring home if it expires. paychecks shrink $50 a month for those earning $30,000 a year. it shrinks $83 a month for those earning $50,000 a year. and $167 a month for those earning $100,000 a year. now, let's switch to the fiscal cliff. and what that is going to cost you. without a deal, you'll be paying lots more in tachxes. say you're single and working hard, you don't have kids, you earn $80,000 a year. if it does not go into effect, you'll pay an additional $3,000 more than what you already pay in taxes. the middle class families will get hit harder, two kids, both parents work. together you earn $80,000 a year. guess what, if there is no deal, you would owe $6,000 more in taxes next year. with so many variables, the question is how is wall street reacting? the stock market dipped every day last week. question is, what is
lawmakers have been so consumed by the fiscal cliff that it appears little was done to extend the 2010 payroll tax cuts, put in place by president obama two years ago in order to boost the economy. so what does it mean to your wallet? here is how much less you'll bring home if it expires. paychecks shrink $50 a month for those earning $30,000 a year. it shrinks $83 a month for those earning $50,000 a year. and $167 a month for those earning $100,000 a year. now, let's switch to the fiscal...
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>> i'm afraid say that i don't think that we will avoid the fiscal cliff. i think we will go over and be debating this again in january and also i hate to say that, luke, i'm frayed your redskins will lose on sunday. >> more of a bills fan but -- i want them to beat the cowboys. we all hate the cowboys. lastly -- navy did beat army. so i'm happy. look, at the bottom line is we will go over 1 january with the fiscal cliff. but there will be an agreement in the first would weeks of january which will be fine in order to have the first step not of debt $4 trillion reduction but of getting that $700 billion fiscal cliff down to a gradual slope so our economy can keep accelerating of $100 billion in debt reduction and that's about all our economy can sustain. >> we will see how much the economy can sustain. thanks for joining us. up next, the cabinet shuffle. who ultimately holds the power as president obama builds a team for his second term? first the amr moment of 2012 that left us a little starstruck. that's andrea with bono. >> an exclusive rock star, humani
>> i'm afraid say that i don't think that we will avoid the fiscal cliff. i think we will go over and be debating this again in january and also i hate to say that, luke, i'm frayed your redskins will lose on sunday. >> more of a bills fan but -- i want them to beat the cowboys. we all hate the cowboys. lastly -- navy did beat army. so i'm happy. look, at the bottom line is we will go over 1 january with the fiscal cliff. but there will be an agreement in the first would weeks of...
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boehner he has not scheduled a debate about on the fiscal cliff which is just absurd. if there is one message to go out there it's that the house has actually done its job and the senate could fix this today if they wanted to. patti ann: you are in north carolina which says a lot. the house right now, no plans to convene unless there is a deal to vote on. both sides obviously saying the ball is in the other court. what is going to happen here? >> i think we're going over the cliff. i've been saying for months i thought we were going over the cliff because, frankly, i believe it's what the president wants. if you go back and look at how he's handled this negotiation from the very beginning, go back and look at what his own administration has been telling him for years, and that is that tax rates need to go up on everybody. this has pw-pb been the president's position i believe from the very beginning. i think that's where we w up. what happens after that i think depends in large part on who gets blamed. we are going over the cliff for a brief period ever time. patti ann
boehner he has not scheduled a debate about on the fiscal cliff which is just absurd. if there is one message to go out there it's that the house has actually done its job and the senate could fix this today if they wanted to. patti ann: you are in north carolina which says a lot. the house right now, no plans to convene unless there is a deal to vote on. both sides obviously saying the ball is in the other court. what is going to happen here? >> i think we're going over the cliff. i've...